India - IT and BPO Services Market by End-user, Type and Deployment - Forecast and Analysis 2023-2027

Published: Sep 2023

Pages: 164

SKU: IRTNTR40476

Snapshot

India - IT and BPO Services Market 2023-2027

The India - IT and BPO services market size is estimated to grow at a CAGR of 10.8% between 2022 and 2027. The market size is forecast to increase by USD 151.59 billion. The growth of the market depends on several factors, including the rising cost pressure to maintain in-house IT systems, the need to focus on core competencies and improve efficiency, and access to new technology, domain expertise, and round-the-clock service. IT and BPO services help organizations create, manage, and optimize information and business processes with business and technical expertise. They also aid in managing IT systems and are process-focused. These services focus on providing a framework to structure IT-related activities.

This IT and BPO services market in India report extensively covers market segmentation by end-user (finance, insurance, telecom, healthcare, and manufacturing and others), type (export and domestic), and product (IT services, BPM, and software and R&D). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the India IT And BPO Services Market During the Forecast Period?

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India IT and BPO Services Market Overview

Driver

The need to focus on core competencies and improve efficiency is the key factor driving the growth of the market. IT and BPO services help in improving business performance because businesses do not need to invest in resources or worry about managing limited available resources. Some companies have previously saved a significant amount of money by implementing IT and BPO services as market players help them plan IT-related business strategies such as software development, procurement IT, and data center outsourcing at minimal costs.

Moreover, IT and BPO not only help to reduce the costs of IT functions but also help to reduce the costs of non-IT functions such as finance, marketing, and customer relationship management (CRM). Cost savings can be achieved by allocating the resources saved in operations to other functions such as marketing, finance, and CRM, which will drive the growth of the India IT and BPO services market during the forecast period.

Trends

Increasing digital transformation in organizations is the primary trend in the market. The new digital era in the IT industry is rapidly changing market behavior, requiring IT solutions that can quickly adapt to business needs. Businesses are realizing the benefits of implementing digital technology that helps them to improve business efficiency and deliver superior services to customers.

Moreover, companies adopting digital technology are seeing significant shifts in their financial performance and business models. This helps to the growth of the market as many IT service providers in India provide digital transformation support to global businesses, which will drive the growth of the market during the forecast period.

Restrain

Lack of effective communication between clients and companies is a challenge that affects the growth of the market. Technical communication in outsourcing contracts between customers and suppliers is essential to reduce outsourcing risks and build trust. Communication is necessary at different stages of the IT service delivery system to avoid system failures and provide backup and recovery functionality. Communication gaps that can occur due to language and cultural differences can lead to misinterpretation of instructions provided by the provider.

Furthermore, effective technical communication between customers and suppliers through appropriate channels such as email, video conferencing, and online project discussion meetings helps customers share information needed to execute projects IT, this will impede the growth of the market during this period. forecast period.

India IT and BPO Services Market Segmentation By End-user

The market share growth by the finance segment will be significant during the forecast period. One of the main reasons behind the number of banking and financial institutions is increasing. Thus, banking and financial institutions are adopting IT services for IT infrastructure management and BPO services for customer support and sales to focus on their core operations. Many global financial institutions and banks depend on India for IT and BPO services, which supports the growth of the market.

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The finance segment showed a gradual increase in the market share of USD 35.58 billion in 2017. However, the Indian financial sector is expected to face certain challenges during the forecast period, such as stringent regulations on banking license approvals. Such regulatory issues related to the licensing of new banks may restrict the growth potential of the banking sector in India - IT and BPO services market during the forecast period.

India IT and BPO Services Market Segmentation By Type

India IT and BPO services export market will witness significant growth. One of the main reasons for this is the availability of a technically skilled workforce. Since IT and BPO companies in India provide 24/7 services to organizations across the globe, many developed countries like the US and the UK choose to source from the country. In addition, India has a large population and high demand for jobs. This leads to the availability of cheap labor. In addition, the country has a workforce that is highly educated, experienced, competent, fluent in English, computer savvy, and technically talented. Therefore, these factors will drive market growth during the forecast period.

India IT And BPO Services Market Customer Landscape

The India IT and BPO Services Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

India IT and BPO Services Market Customer Landscape

Who are the Major India IT and BPO Services Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

HCL Technologies Ltd.: The company offers IT and BPO services such as Hybrid Cloud Services, Digital Workplace Services, and NextGen Network Services.
Infosys Ltd.: The company offers IT services in six sectors such as health, transport, justice, immigration, defense, and citizens services.
International Business Machines Corp.: The company offers BPO services such as Finance Transformation Services and Procurement and Sourcing Services

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The India IT and BPO services market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.

End-user Outlook (USD Billion, 2017 - 2027)
- Finance
- Insurance
- Telecom
- Healthcare
- Manufacturing and others

Type Outlook (USD Billion, 2017 - 2027)
- Export
- Domestic

Product Outlook (USD Billion, 2017 - 2027)
- IT services
- BPM
- Software and R&D

India IT And BPO Services Market Scope
Report Coverage	Details
Page number	164
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 10.8%
Market growth 2023-2027	USD 151.59 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	9.23
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Accenture Plc, Automatic Data Processing Inc., Cognizant Technology Solutions Corp., ExlService Holdings Inc., Firstsource Solutions Ltd., Genpact Ltd., HCL Technologies Ltd., Hinduja Group Ltd., Infosys Ltd., International Business Machines Corp., Morae Global Corp., Serco Group Plc, Srisys Inc., StarTek Inc., Sutherland Global Services Inc., Tata Consultancy Services Ltd., Tech Mahindra Ltd., TTEC Holdings Inc., Wipro Ltd., and WNS Holdings Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this India IT And BPO Services Market Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the market between 2023 and 2027
Precise estimation of the market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the market across India
A thorough analysis of the market’s competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of market companies

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 07: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 08: Parent market
- Exhibit 09: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 10: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 11: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027
- Exhibit 12: Chart on India - Market size and forecast 2022-2027 ($ billion)
- Exhibit 13: Data Table on India - Market size and forecast 2022-2027 ($ billion)
- Exhibit 14: Chart on India: Year-over-year growth 2022-2027 (%)
- Exhibit 15: Data Table on India: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 IT and BPO services market in India 2017 - 2021
- Exhibit 16: Historic Market Size – Data Table on it and bpo services market in India 2017 - 2021 ($ billion)

4.2 End-user Segment Analysis 2017 - 2021
- Exhibit 17: Historic Market Size – End-user Segment 2017 - 2021 ($ billion)

4.3 Type Segment Analysis 2017 - 2021
- Exhibit 18: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

4.4 Product Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 20: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers
- Exhibit 21: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers
- Exhibit 22: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants
- Exhibit 23: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes
- Exhibit 24: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry
- Exhibit 25: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition
- Exhibit 26: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

6.1 Market segments
- Exhibit 27: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 28: Data Table on End-user - Market share 2022-2027 (%)

6.2 Comparison by End-user
- Exhibit 29: Chart on Comparison by End-user
- Exhibit 30: Data Table on Comparison by End-user

6.3 Finance - Market size and forecast 2022-2027
- Exhibit 31: Chart on Finance - Market size and forecast 2022-2027 ($ billion)
- Exhibit 32: Data Table on Finance - Market size and forecast 2022-2027 ($ billion)
- Exhibit 33: Chart on Finance - Year-over-year growth 2022-2027 (%)
- Exhibit 34: Data Table on Finance - Year-over-year growth 2022-2027 (%)

6.4 Insurance - Market size and forecast 2022-2027
- Exhibit 35: Chart on Insurance - Market size and forecast 2022-2027 ($ billion)
- Exhibit 36: Data Table on Insurance - Market size and forecast 2022-2027 ($ billion)
- Exhibit 37: Chart on Insurance - Year-over-year growth 2022-2027 (%)
- Exhibit 38: Data Table on Insurance - Year-over-year growth 2022-2027 (%)

6.5 Telecom - Market size and forecast 2022-2027
- Exhibit 39: Chart on Telecom - Market size and forecast 2022-2027 ($ billion)
- Exhibit 40: Data Table on Telecom - Market size and forecast 2022-2027 ($ billion)
- Exhibit 41: Chart on Telecom - Year-over-year growth 2022-2027 (%)
- Exhibit 42: Data Table on Telecom - Year-over-year growth 2022-2027 (%)

6.6 Healthcare - Market size and forecast 2022-2027
- Exhibit 43: Chart on Healthcare - Market size and forecast 2022-2027 ($ billion)
- Exhibit 44: Data Table on Healthcare - Market size and forecast 2022-2027 ($ billion)
- Exhibit 45: Chart on Healthcare - Year-over-year growth 2022-2027 (%)
- Exhibit 46: Data Table on Healthcare - Year-over-year growth 2022-2027 (%)

6.7 Manufacturing and others - Market size and forecast 2022-2027
- Exhibit 47: Chart on Manufacturing and others - Market size and forecast 2022-2027 ($ billion)
- Exhibit 48: Data Table on Manufacturing and others - Market size and forecast 2022-2027 ($ billion)
- Exhibit 49: Chart on Manufacturing and others - Year-over-year growth 2022-2027 (%)
- Exhibit 50: Data Table on Manufacturing and others - Year-over-year growth 2022-2027 (%)

6.8 Market opportunity by End-user
- Exhibit 51: Market opportunity by End-user ($ billion)
- Exhibit 52: Data Table on Market opportunity by End-user ($ billion)

7 Market Segmentation by Type

7.1 Market segments
- Exhibit 53: Chart on Type - Market share 2022-2027 (%)
- Exhibit 54: Data Table on Type - Market share 2022-2027 (%)

7.2 Comparison by Type
- Exhibit 55: Chart on Comparison by Type
- Exhibit 56: Data Table on Comparison by Type

7.3 Export - Market size and forecast 2022-2027
- Exhibit 57: Chart on Export - Market size and forecast 2022-2027 ($ billion)
- Exhibit 58: Data Table on Export - Market size and forecast 2022-2027 ($ billion)
- Exhibit 59: Chart on Export - Year-over-year growth 2022-2027 (%)
- Exhibit 60: Data Table on Export - Year-over-year growth 2022-2027 (%)

7.4 Domestic - Market size and forecast 2022-2027
- Exhibit 61: Chart on Domestic - Market size and forecast 2022-2027 ($ billion)
- Exhibit 62: Data Table on Domestic - Market size and forecast 2022-2027 ($ billion)
- Exhibit 63: Chart on Domestic - Year-over-year growth 2022-2027 (%)
- Exhibit 64: Data Table on Domestic - Year-over-year growth 2022-2027 (%)

7.5 Market opportunity by Type
- Exhibit 65: Market opportunity by Type ($ billion)
- Exhibit 66: Data Table on Market opportunity by Type ($ billion)

8 Market Segmentation by Product

8.1 Market segments
- Exhibit 67: Chart on Product - Market share 2022-2027 (%)
- Exhibit 68: Data Table on Product - Market share 2022-2027 (%)

8.2 Comparison by Product
- Exhibit 69: Chart on Comparison by Product
- Exhibit 70: Data Table on Comparison by Product

8.3 IT services - Market size and forecast 2022-2027
- Exhibit 71: Chart on IT services - Market size and forecast 2022-2027 ($ billion)
- Exhibit 72: Data Table on IT services - Market size and forecast 2022-2027 ($ billion)
- Exhibit 73: Chart on IT services - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on IT services - Year-over-year growth 2022-2027 (%)

8.4 BPM - Market size and forecast 2022-2027
- Exhibit 75: Chart on BPM - Market size and forecast 2022-2027 ($ billion)
- Exhibit 76: Data Table on BPM - Market size and forecast 2022-2027 ($ billion)
- Exhibit 77: Chart on BPM - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on BPM - Year-over-year growth 2022-2027 (%)

8.5 Software and R and D - Market size and forecast 2022-2027
- Exhibit 79: Chart on Software and R and D - Market size and forecast 2022-2027 ($ billion)
- Exhibit 80: Data Table on Software and R and D - Market size and forecast 2022-2027 ($ billion)
- Exhibit 81: Chart on Software and R and D - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on Software and R and D - Year-over-year growth 2022-2027 (%)

8.6 Market opportunity by Product
- Exhibit 83: Market opportunity by Product ($ billion)
- Exhibit 84: Data Table on Market opportunity by Product ($ billion)

9 Customer Landscape

9.1 Customer landscape overview
- Exhibit 85: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 86: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 87: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 88: Overview on factors of disruption

11.4 Industry risks
- Exhibit 89: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 90: Vendors covered

12.2 Market positioning of vendors
- Exhibit 91: Matrix on vendor position and classification

12.3 Accenture Plc
- Exhibit 92: Accenture Plc - Overview
- Exhibit 93: Accenture Plc - Business segments
- Exhibit 94: Accenture Plc - Key news
- Exhibit 95: Accenture Plc - Key offerings
- Exhibit 96: Accenture Plc - Segment focus

12.4 Automatic Data Processing Inc.
- Exhibit 97: Automatic Data Processing Inc. - Overview
- Exhibit 98: Automatic Data Processing Inc. - Business segments
- Exhibit 99: Automatic Data Processing Inc. - Key news
- Exhibit 100: Automatic Data Processing Inc. - Key offerings
- Exhibit 101: Automatic Data Processing Inc. - Segment focus

12.5 Cognizant Technology Solutions Corp.
- Exhibit 102: Cognizant Technology Solutions Corp. - Overview
- Exhibit 103: Cognizant Technology Solutions Corp. - Business segments
- Exhibit 104: Cognizant Technology Solutions Corp. - Key news
- Exhibit 105: Cognizant Technology Solutions Corp. - Key offerings
- Exhibit 106: Cognizant Technology Solutions Corp. - Segment focus

12.6 ExlService Holdings Inc.
- Exhibit 107: ExlService Holdings Inc. - Overview
- Exhibit 108: ExlService Holdings Inc. - Business segments
- Exhibit 109: ExlService Holdings Inc. - Key news
- Exhibit 110: ExlService Holdings Inc. - Key offerings
- Exhibit 111: ExlService Holdings Inc. - Segment focus

12.7 Firstsource Solutions Ltd.
- Exhibit 112: Firstsource Solutions Ltd. - Overview
- Exhibit 113: Firstsource Solutions Ltd. - Business segments
- Exhibit 114: Firstsource Solutions Ltd. - Key offerings
- Exhibit 115: Firstsource Solutions Ltd. - Segment focus

12.8 Genpact Ltd.
- Exhibit 116: Genpact Ltd. - Overview
- Exhibit 117: Genpact Ltd. - Business segments
- Exhibit 118: Genpact Ltd. - Key news
- Exhibit 119: Genpact Ltd. - Key offerings
- Exhibit 120: Genpact Ltd. - Segment focus

12.9 HCL Technologies Ltd.
- Exhibit 121: HCL Technologies Ltd. - Overview
- Exhibit 122: HCL Technologies Ltd. - Business segments
- Exhibit 123: HCL Technologies Ltd. - Key news
- Exhibit 124: HCL Technologies Ltd. - Key offerings
- Exhibit 125: HCL Technologies Ltd. - Segment focus

12.10 Infosys Ltd.
- Exhibit 126: Infosys Ltd. - Overview
- Exhibit 127: Infosys Ltd. - Business segments
- Exhibit 128: Infosys Ltd. - Key news
- Exhibit 129: Infosys Ltd. - Key offerings
- Exhibit 130: Infosys Ltd. - Segment focus

12.11 International Business Machines Corp.
- Exhibit 131: International Business Machines Corp. - Overview
- Exhibit 132: International Business Machines Corp. - Business segments
- Exhibit 133: International Business Machines Corp. - Key news
- Exhibit 134: International Business Machines Corp. - Key offerings
- Exhibit 135: International Business Machines Corp. - Segment focus

12.12 Serco Group Plc
- Exhibit 136: Serco Group Plc - Overview
- Exhibit 137: Serco Group Plc - Business segments
- Exhibit 138: Serco Group Plc - Key news
- Exhibit 139: Serco Group Plc - Key offerings
- Exhibit 140: Serco Group Plc - Segment focus

12.13 StarTek Inc.
- Exhibit 141: StarTek Inc. - Overview
- Exhibit 142: StarTek Inc. - Business segments
- Exhibit 143: StarTek Inc. - Key offerings
- Exhibit 144: StarTek Inc. - Segment focus

12.14 Tata Consultancy Services Ltd.
- Exhibit 145: Tata Consultancy Services Ltd. - Overview
- Exhibit 146: Tata Consultancy Services Ltd. - Business segments
- Exhibit 147: Tata Consultancy Services Ltd. - Key news
- Exhibit 148: Tata Consultancy Services Ltd. - Key offerings
- Exhibit 149: Tata Consultancy Services Ltd. - Segment focus

12.15 Tech Mahindra Ltd.
- Exhibit 150: Tech Mahindra Ltd. - Overview
- Exhibit 151: Tech Mahindra Ltd. - Business segments
- Exhibit 152: Tech Mahindra Ltd. - Key offerings
- Exhibit 153: Tech Mahindra Ltd. - Segment focus

12.16 Wipro Ltd.
- Exhibit 154: Wipro Ltd. - Overview
- Exhibit 155: Wipro Ltd. - Business segments
- Exhibit 156: Wipro Ltd. - Key news
- Exhibit 157: Wipro Ltd. - Key offerings
- Exhibit 158: Wipro Ltd. - Segment focus

12.17 WNS Holdings Ltd.
- Exhibit 159: WNS Holdings Ltd. - Overview
- Exhibit 160: WNS Holdings Ltd. - Business segments
- Exhibit 161: WNS Holdings Ltd. - Key offerings
- Exhibit 162: WNS Holdings Ltd. - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 163: Inclusions checklist
- Exhibit 164: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 165: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 166: Research methodology
- Exhibit 167: Validation techniques employed for market sizing
- Exhibit 168: Information sources

13.5 List of abbreviations
- Exhibit 169: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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